Powerup Capital Review #49

Here's an update on the latest case between Kishore M and MAS:

1. We refer to the confusion that some readers may have experienced in light of the reprimand from MAS to Commerz Capital International Pte Ltd and Mr. Kishore M. The reprimand can be found in the link below
http://www.mas.gov.sg/news_room/enforcement/index.html

2. For clarity and completeness:

(a) Commerz Capital International Pte Ltd and Mr. Kishore M. both held their respective valid licenses with MAS till 24 August 2009; and
(b) This was accurately reflected on Commerz Capital's website. 

3. However, due to technical and administrative problems with the website beyond the control of Commerz Capital and Mr. Kishore M., the statements pertaining to Commerz Capital's and Mr. Kishore M's licenses with MAS remained on the website till alerted by MAS; upon which, the statements were removed.

4. MAS has recognized the inadvertent nature of this omission and has stated that: "Following the Monetary Authority of Singapore's instructions to remove the representations from the Website, CCIPL has taken steps to remove the Website entirely."

5. In this regard, no further action has been taken by MAS. 

6. In addition, Readers will note that no allegations of impropriety have been brought up by MAS against either party in this matter, which is now closed.

7. Take notice that CCIPL and Mr. Kishore M. will take not hesitate to immediately institute legal proceedings against any person or body corporate who makes or causes to be made defamatory remarks or statements against CCIPL and/or Mr. Kishore M. and/or repeats or publishes the MAS reprimand out of context such that the same becomes defamatory.

Source [1]

Source [2]